East China’s Jiangsu province reported sustained growth in the introduction of direct foreign investment in the first four months of this year against the adversities caused by the covid-19 epidermic.
Aicac (Nanjing) Biotechnology Co., Ltd., located in Jiangning District of Nanjing, reports annual sales of nearly 1 billion yuan.
In order to meet market demand, with the help of Jiangning Development Zone Investment Promotion Bureau, the company invested 50 million yuan in March to purchase a 6,000-square-meter factory building.
Yu Xiaoling, General Manager of Aicheng (Nanjing) Biotechnology Co., Ltd.
When we were just looking for new factories
the development zone administration
recommended more than ten locations
We checked them one by one
and finally decided on this location
Jiangning Development Zone has allocated 80 mu of land to more than 600 foreign-funded enterprises, reserving enough space for capacity expansion.
Wei Ting, Deputy Director of the Project Group of Nanjing Jiangning Development Zone Investment Promotion Bureau
We have formed a list
of capital-increasing enterprises
and strengthened targeted services
From January to May
we introduced US$468 million of direct investment
accounting for 64% of the annual target
and reporting a year-on-year increase of 13.3%
Yancheng has relied on the Sino-Korea (Yancheng) Industrial Park and the integrated industrial development base in the Yangtze River Delta to speed up the process of project recruitment and settlement and construction.
Changzhou approved 11 foreign-funded projects with a total investment of US$30 million with 4 new projects totaling US$100 million of investment.
From January to May, Wuxi reported FDI of US$1.7 billion, a year-on-year increase of more than 50%.
Wang Yan, Director of Foreign Investment Division of Wuxi Municipal Bureau of Commerce
We will give a 1% bonus to companies
with foreign investment exceeding US$10 million
in service industry agreements
which has greatly enhanced
the confidence of foreign companies
Statistics show that from January to April, Jiangsu reported direct foreign investment of 15.93 billion US dollars, an increase of 41.5%, accounting for 21.4% of the national proportion, ranking first in the country.
Jiangsu's manufacturing sector reported FDI of US$6.06 billion, up 86.9% year-on-year. Direct foreign investment in high-tech industries reached US$4.78 billion, a year-on-year increase of 65.5%.
